2. In discussing the stock market, the author states that if all the assets in a market are correctly priced, it leaves no scope for cleverness but it also does what?

3. Whose study on duration neglect and the peak-end rule involved a story of Jen, who died instantly in an automobile accident?

4. The author points out in Chapter 31 that professional golfers putt more successfully when doing what?

5. How many pairs of competing companies are analyzed in Built to Last?

Short Essay Questions

1. What is a correlations coefficient?

2. Wht is duration neglect?

3. What is flow?

4. What did Tversky and Kahneman conclude in their study of pain during medical procedures?

5. Why does Kahneman cite the book Expert Political Judgment: How Good Is It? Who wrote this book?

6. What is the principle of diminishing sensitivity?

7. What story from Malcolm Gladwell's book Blink does the author present?

8. How do prospect theory and utility theory differ?

9. How did Nassim Taleb define the term narrative fallacy in The Black Swan?

10. What does "hedonimeter" refer to?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

How are normalcy and the capacity for surprise defined and analyzed in "Assessing Normalcy"? To which system of thought does each apply? What happens when several surprises happen in succession of one another?

Essay Topic 2

What is the priming effect? What are different manifestations of the priming effect? Give examples from the text and from your own experience that demonstrate priming effects.

Essay Topic 3

What has the author concluded regarding risk-taking choices? How do they connect with or oppose risk aversion? What are examples presented by the author that illustrate these concepts?

(see the answer keys)

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